How much home can you actually afford? This calculator uses standard lender guidelines, the 28% front-end ratio and 43% back-end debt-to-income ratio, to estimate the maximum home price you qualify for based on your gross income, existing debts, and down payment.
Detailed mode adds 2 more inputs including advanced assumptions.
based on your $100,000 income and 20% down
At this price, your monthly housing cost reaches 28% of gross monthly income, which is the front-end ratio lenders use as a guideline. Lower property tax or insurance assumptions would raise what you can afford.
Monthly payment at max affordability
$2,335
What your total monthly housing cost would be if you bought at the maximum price (P&I, taxes, insurance, PMI if applicable).
Down payment required
$70,600
The cash you'd need at closing for your stated down payment percentage.
Loan amount
$282,400
The mortgage you would carry at this max home price.
Front-end DTI
28%
Housing payment as a percent of gross monthly income.
Back-end DTI
32.8%
Housing payment plus other monthly debt as a percent of gross income.
Your monthly debt-to-income ratio. Total housing payment plus existing debt obligations divided by gross monthly income.
Math methodology last reviewed by Barron Hansen on